Voloridge Investment Management LLC raised its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 154.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,341 shares of the basic materials company's stock after acquiring an additional 10,532 shares during the period. Voloridge Investment Management LLC's holdings in Franco-Nevada were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Physician Wealth Advisors Inc. bought a new stake in Franco-Nevada in the fourth quarter worth $49,000. Harbour Investments Inc. grew its stake in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after buying an additional 93 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Franco-Nevada by 538.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock worth $71,000 after buying an additional 512 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Franco-Nevada during the 4th quarter valued at about $73,000. Finally, Jones Financial Companies Lllp raised its position in shares of Franco-Nevada by 25.6% during the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after buying an additional 126 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
FNV has been the subject of several recent research reports. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. UBS Group raised their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 11th. HC Wainwright reissued a "buy" rating and set a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target of $165.25.
Check Out Our Latest Analysis on Franco-Nevada
Franco-Nevada Stock Performance
Franco-Nevada stock traded up $9.57 during mid-day trading on Monday, hitting $178.37. The company's stock had a trading volume of 1,042,444 shares, compared to its average volume of 728,704. The company has a 50 day moving average of $163.50 and a 200-day moving average of $143.08. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $188.33. The stock has a market cap of $34.34 billion, a PE ratio of -56.44, a P/E/G ratio of 9.78 and a beta of 0.45.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, equities research analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.38 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.85%. Franco-Nevada's dividend payout ratio is currently 47.50%.
Franco-Nevada Profile
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Free Report)
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.
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